UAE industries to exhibit at Hannover Messe

UAE’s local industry and government bodies, for the 10th consecutive year, will exhibit at Hannover Messe, the world’s largest manufacturing industry trade fair, later this month in the German provincial capital. The event will take place from April 24 to 28. Led by the Ministry of Economy and the Department of Economic Development – Abu Dhabi, the 1,300 sq m UAE pavilion at the expo will host federal, semi-government and prominent private sector industry bodies and manufacturers, said a statement. This year the pavilion, which is split across two halls, will showcase technological developments and investment opportunities within the UAE, providing an expected audience of 250,000 international visitors and stakeholders with detailed insights into national economic trends, it said. According to the ministry’s latest statistics, the industrial sector currently accounts for 16 per cent of the UAE’s gross domestic product (GDP), with a total of roughly Dh477 billion ($130 billion) invested by the end of 2016. The UAE pavilion will feature key leading industry bodies such as Strata, Mubadala’s manufacturing arm, develops advanced technologies for worldwide clients, and Emirates Global Aluminium (EGA), the UAE’s largest industrial company outside of the oil and gas market. EGA and Strata are exemplar of the national capacity to deliver world-class manufacturing in different sectors. Also present will be ZonesCorp, the largest operator of economic zones in the UAE, and DMCC (Dubai Multi Commodities Centre), which was ranked last year as the number one free trade zone in the world for the second consecutive year. Together, the two free trade zones represent a significant amount of foreign direct investment, and their presence at the UAE Pavilion seeks to attract further international business. In addition, Abu Dhabi Ports will showcase the UAE’s unique and geostrategic import - export business. With a total of ten ports, the port developer sees some 25,000 ships come and go from the capital’s shores each year, contributing more than Dh16 billion ($4.3 billion) to the GDP. Abu Dhabi Chamber of Commerce and Industry, a private-public sector intermediary, will also exhibit. Abu Dhabi Chamber’s mandate includes strengthening bilateral trade ties and highlighting the unique investment opportunities in Abu Dhabi, which last year saw Dh95 billion ($25.8 billion) in foreign direct investment. As well as the main pavilion, the Department of Economic Development Abu Dhabi will host a UAE Investment Forum in collaboration with the German-Arab Chamber of Industry and Commerce, which is set to take place during the fair. The Investment Forum will gather experts and industry leaders to discuss the latest investment opportunities and industrial projects throughout the UAE. Sultan Bin Saeed Al Mansouri, the UAE Minister of Economy, said: “Our national strategy for the industrial and manufacturing sectors forms a cornerstone of our efforts to maximise economic diversification nationwide, in line with the UAE Vision 2021.” “Our participation reflects the wealth of international opportunities available to the UAE as we seek to advance our capacity development programmes and attract global sources of direct investment, with a view to nurturing the industrial sector in a long-term and sustainable manner,” he added. Ali Majid Al Mansouri, chairman of the Department of Economic Development – Abu Dhabi, said: “The annual event provides a unique and global platform for our manufacturing industry that we have enjoyed for a decade now.” “This year, we are keen to concentrate our efforts on our recent contributions to what is known as the Fourth Industrial Revolution — that is, the social and economic shift towards applying transformational technologies like blockchain and artificial intelligence systems,” he said. “In particular, this includes the UAE’s establishment of the world’s first laboratory to study and implement such technologies, as well as concerted efforts to adapt the education sector as necessary,” he added. “More broadly, the event is also one of our biggest opportunities to attract direct foreign investments that are necessary for maintaining the accelerated growth seen by Abu Dhabi and the UAE. Despite lower oil prices, we saw significant growth in the manufacturing industry last year, in part thanks to such international investments,” he concluded.